§ 2436-a. School aid revenues. With respect to each issue of
outstanding special school purpose bonds, the chairman of the agency
shall annually certify, or in the case of the first such certificate
within thirty days after the sale of an issue of special school purpose
bonds, to the comptroller and the director of the budget, with a copy to
the commissioner of education, a schedule setting forth the amount of
school aid revenue necessary for payment of the following obligations:

(a) all interest and all payments of principal and redemption premium,
if any, on such special school purpose bonds maturing or otherwise
coming due during the subsequent state fiscal year;

(b) the amounts required to be deposited in any debt service reserve
fund with respect to such special school purpose bonds;

(c) the amount, if any, due to any provider of any bond credit or
liquidity facility, representing payments made by it as provided in the
applicable resolution or trust indenture, including any related
reasonable interest, fees or charges so provided;

(d) the amount, if any, required to be rebated to the United States to
provide for continued federal tax exemption of such special school
purpose bonds; and

(e) any administrative or other fees, costs or charges due to the
agency or any other party in connection with such special school purpose
bonds.

The certification may be amended and, in the event of a bond sale,
shall be amended no later than thirty days after such sale. The schedule
accompanying such certification shall provide for such payment dates as
the agency deems appropriate to ensure that sufficient funds will be
available to meet its obligations relating to such special school
purpose bonds as they come due.